1. Daily Commodity Report
5th December 2012
Gold Silver Crude MCX GOLD (5 DECEMBER 12) –
05-Dec-12
Expiry 5-Dec-12 5-Dec-12 18-Dec-12 Gold opened higher at 31319. Incidentally, this was the highest
price recorded for the day. It failed to sustain higher and moved
Open 31,319 62,200 4,888
lower to touch an intra-day low of 30945. It ended the day with
High 31,319 62,200 4,898 moderate losses to close at 30958.
Low 30,945 60,433 4,813
The RSI is still placed below its average, which would lead to
Close 30,958 60,671 4,856 selling pressure. However, the Stochastic is placed above its
Prev. Close 31,262 61,814 4,878 average and is also placed in the over sold zone, which would lead
to intermediate bouts of short covering and buying support at lower
% Change -0.97% -1.85% -0.45%
levels. The -DI line is again started to move higher after a brief
Source – MCX correction and is placed above 35 level, indicating sellers are
gaining strength. MCX Gold faces resistance at 31076, 31348,
Volume (In 000's) 31467, 31737, 32270 and 32421 while the support levels are
placed at 30837, 30498, 30366 and 29268.
4-Dec-12 3-Dec-12 % Chg.
Gold (gms) 202.0 1,572.0 -87.15% MCX SILVER (5 DECEMBER 12) –
Silver (kgs) 18.2 43.8 -58.36% Silver opened higher at 62200. Incidentally, this was the highest
Crude (bbl) 26,006.0 25,216.4 3.13% price recorded for the day. It failed to sustain higher and moved
lower to touch an intra-day low of 60433. It ended the day with
Source – MCX large losses to close at 60671.
Turnover (In Lacs) The RSI and the Stochastic are placed below their respective
4-Dec-12 3-Dec-12 % Chg.
averages, which would lead to further selling pressure. However,
the Stochastic is placed in the over sold zone, which would lead to
Gold 6,292.6 49,142.1 -87.20% intermediate bouts of short covering. The ADX line, the +DI line
and the –DI line are moving sideways indicating a range bound
Silver 11,177.4 27,089.0 -58.74%
trend. MCX Silver faces resistance at 61814, 62200, 62301 and
Crude 1,262,229.0 1,234,677.6 2.23% 63734, while the supports are placed at 60335, 59252 and 57599
levels.
Source – MCX
MCX CRUDE (18 DECEMBER 12) –
Global Market (Nymex - $)
04/12/2012 05/12/2012
% Crude opened higher at 4888 and moved further higher to touch an
Chg. intra-day high of 4898. However, it failed to sustain higher and
Gold (oz) 1,703.50 1,695.80 0.45% moved lower to touch an intra-day low of 4856. It ended the day
Silver (oz) 33.17 32.81 1.10%
with modest losses to close at 4856.
WTI Crude (bbl) 88.81 88.50 0.35% The RSI has slipped below its average, which would lead to selling
Brent Crude (bbl) 110.01 109.84 0.15% pressure. However, the Stochastic is placed above its average,
which would lead to intermediate bouts of buying support at lower
Dollar Index 79.66 79.67 -0.01%
levels. The ADX line, – DI line and +DI line are moving sideways,
Source – www.cmegroup.com indicating a range bound trend. It faces resistance at 4892, 4950,
5000 and 5054 while the supports are placed at 4760, 4692, 4603
and 4578.
NOTE – Stop Losses should be considered strictly on Closing
Basis
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2. Commodity News:
Brent crude oil prices drop below $110 on demand woes
Brent crude oil fell below $110 a barrel on Tuesday as protracted US budget negotiations fanned concerns about the
health of the global economy and the prospects for energy demand. Oil fell even though the dollar weakened and
European shares added to gains. The euro hit a six-month high as optimism about Greece's plan to buy back debt.
Usually oil moves up when the dollar weakens and it also often follows equities on the way up. But Brent futures fell
$1.13 by 1322 GMT to $109.79 per barrel.
Gold falls to month’s low on US fiscal cliff worries
Gold fell to its lowest in nearly a month on Tuesday on technically driven selling after prices broke below key support
levels, with oil prices drifting lower as investors worried about stalled US budget talks. Gold broke below $1,710 an
ounce and subsequently $1,705 in Asian trade, chart levels it had held since early November, which triggered stop-
loss selling, traders said. It bounced off support at $1,698 an ounce to return to its lower support level.
Source: ET
Economic Calendar:
Countries / Wednesday Thursday Friday
Regions 05/Dec 06/Dec 07/Dec
INR FX Reserves, USD
India
(Dec 7)
ISM Non-Manufacturing PMI
US Challenger Job Cuts (YoY) Unemployment Rate (Nov)
(Nov)
Initial & Continuing Jobless
Factory Orders (MoM) (Oct) Nonfarm Payrolls (Nov)
Claims
Eruo Markit PMI Composite UK Industrial Production
Global UK Total Trade Balance
(Nov) (YoY) (Oct)
Euro Retail Sales (MoM) Euro Gross Domestic
(Oct) Product s.a. (QoQ)
UK BoE Asset Purchase
Facility
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